Abstract As afield of study, company leadership can be examined from many angles. In this paper our aim is to study leadership in the way it effects change. The qualitative value of the information compiled is considerable since it helps to understand the grounds on which the success of the directors who effected change of the Spanish media market was based. The interviews afford us a closer look at the minds of the leading players in action. The cases analysed show that, in media companies, radical transformations do not come about without the existence of one or several leaders, capable of mobilising the organisation where they work. Through the literature review, the companies'internal documentation and interviews with the directors we have been able to demonstrate that our hypotheses on leadership are not only reasonable but also help to explain, to a great extent, the profound transformations which the Spanish media market has undergone in the last 25 years.